Asian shares mostly up, reverse morning losses

HONG KONG: Asian markets mostly rose on Friday ahead of a key US jobs report, while Hong Kong reversed morning losses as the financial hub’s leaders prepare to meet pro-democracy protestors who have closed parts of the city for the past week.

The dollar ticked up against the yen after sinking on Thursday from a six-year high above 110 yen while the euro pared initial gains that came after the European Central Bank refrained from further easing monetary policy.

Hong Kong, which had been closed for two consecutive public holidays, ended 0.64 percent, or 147.49 points, higher at 23,080.47 after opening more than one percent lower Friday. However, it is still well down for the week after losing more than three percent over Monday and Tuesday.

As the demonstrations in Hong Kong moved into a sixth day its Chief Executive Leung Chun-ying refused demands to resign and held out the hope of compromise by saying he will talk to protest leaders.

He has appointed his deputy to sit down with a prominent students’ group that has been at the vanguard of the protests, although there was no sign of the talks beginning by Friday afternoon.

With shares having lost around 10 percent since hitting their 2014 high at the start of September investors took the opportunity to pick up some bargains.

Eyes turn to US jobs data

Wall Street’s three main indexes were soft as investors sat back ahead of the release of a key US jobs report later in the day, which could provide a clearer handle of the Federal Reserve’s plans for interest rates.

Japan’s Nikkei pared initial losses as the yen weakened slightly against the dollar.

The greenback—which broke 110 yen Wednesday for the first time in more than six years—fetched 108.85 yen Friday, against 108.42 yen in New York.